Biden’s wave-off of the China threat contradicts much of the data on the subject. According to some projections, China’s GDP will overtake that of the United States by 2030, or even sooner.

And much of Beijing’s success in catching up to the U.S. is credited to its theft of American intellectual property (IP), both in waging cyber warfare campaigns against our private sector and through stealing U.S. defense secrets. Each year, American businesses lose out on tens of billions per year thanks to Chinese IP theft, according to the U.S. International Trade Commission. Beijing receives a massive competitive advantage through this strategy, as it does not have to invest the billions necessary to build up its defense apparatus. China prefers to simply steal our military technology, which was developed with trillions of dollars on research and development costs through U.S. companies and government entities.